In decent times, 10% used to be a fair percentage. As already mentioned, it's much more volatile right now depending on how badly that particular market is hurting.
p.s. From what I've heard, Phoenix\Vegas is still really hurting right now. 30% sounds extreme(lowball territory, IMO), but it may not be.
p.s. From what I've heard, Phoenix\Vegas is still really hurting right now. 30% sounds extreme(lowball territory, IMO), but it may not be.
No such thing as a low ball offer in this market.
Where is it?
How much they want?
How much do you want to spend?
Never buy at the top of you budget. I remember when we got approved for a morgage. I told the loan officer he was on crack if he thought I was going to pay that much and be stuck like that. Thank God I did the right thing.
SS, I have some major hitters as clients, and they are telling me that specifically in the townhome and condo areanas were looking at EASILY 40-50% overvalued still,,,, and they can make 1 call and lower the price 70-100 grand on a place, (because of who they know,) for the normal schmo walking in to buy a small starter, they could negotiate 30% easily,,,
depending on location, central corridor where I live, (old money) no discount. lol,, Outskirts of city, Mesa-Anthem-suprise, 20-25% below offer is still likely, those homes got smacked the hardest the quickest due to gas issues, so they are closer to fair market,,,
gl to all
tater
depending on location, central corridor where I live, (old money) no discount. lol,, Outskirts of city, Mesa-Anthem-suprise, 20-25% below offer is still likely, those homes got smacked the hardest the quickest due to gas issues, so they are closer to fair market,,,
gl to all
tater
OHHH,,, and remember 1 thing, the REALTOR is NOT WORKING FOR YOU!!!,,, lol he is working for the seller!!!!
sooooo it is in their best interest to bully you into a 10% range,,, they get a higher commission,,,
they are glorified car salesman, and they (realtors) barely do sht for what they are paid,,
you really gotta state your City, and the area of the city you want to buy in, then Im sure some of the realtors on this site will give you a market valueation,,
tater
sooooo it is in their best interest to bully you into a 10% range,,, they get a higher commission,,,
they are glorified car salesman, and they (realtors) barely do sht for what they are paid,,
you really gotta state your City, and the area of the city you want to buy in, then Im sure some of the realtors on this site will give you a market valueation,,
tater
It REALLY depends on the situation. Comparables is the only way to go.
You can adjust the price for the current state of the market, but your "discount" on the offer should depend on what "asking" price was.
Last year, someone put a house up for $650k, I put an offer in for $630k, and they countered me with $675k!
House sold for $675k (not to me)
You can adjust the price for the current state of the market, but your "discount" on the offer should depend on what "asking" price was.
Last year, someone put a house up for $650k, I put an offer in for $630k, and they countered me with $675k!
House sold for $675k (not to me)
